3 Essential Ingredients for Closing the Deal
How to Have a Successful Sale
There are many elements involved in a successful sale process, but in our experience, there are 3 essential ingredients needed to solve a pain point in a way that is convenient, cost effective, and timely.
By following a well-planned and organized effort, you can establish a solid relationship that keeps the customer coming back for more. Here are three sales tips to make sure that you’ll be closing the deal.
Key Factors for Closing a Sale: Identify the Pain Point
The first step is identifying the business problem or pain point. This involves discovering what difficulty is repeating itself for the client. This can also be known as the pain point. It?s an issue that has increasingly grown in size so that it is easily identified and has toperations to employee accountability.
Once the problem(s) have been explained thoroughly, the next step is to identify the cause, why does the problem occur? Identifying the cause will help lead into the different ways you can provide a solution. The cause of a problem is almost never where the symptom shows up, it?s important to find the cause and fix it; you can’t fix a symptom. It will enable both the client and yourself to work through the processes you will take to eradicate the cause of the problem.
Identify and Seek the Champion
Businessdictionary.com defines a champion as a person who voluntarily takes extraordinary interest in the adoption, implementation, and success of a cause, policy, program, project, or product. He or she will typically try to force the idea through entrenched internal resistance to change, and will evangelize it throughout the organization.
The champion is influential because even though senior management of an organization is committed, it does not guarantee that they will drive the change. Getting the buy-in for the enrolment of the people is a must; otherwise it becomes compliance by the seniors as they don?t invest their heart and soul into the change management process.
People undergoing change in the workplace can experience many different states and roadblocks such as: responsiveness/confusion, understanding/fear, trust and adoption. The champion is there to help staff in each stage which will increase employee buy-in and keep the process moving forward. They will also help prevent fragmented learning by ensuring everyone is educated by the appropriate steps and level of understanding.
Ensure There is a Budget Available
According to Sandler Training, a salesperson’s value is more about what information they discover from prospects, as opposed to what information they share with prospects, and nowhere is that more apparent than in budget. Firstly, it is imperative that the buyer understands that it is not as important to know how much the product or service will cost, but rather that they understand the value. Once they comprehend the benefit, the cost will be justified and they will be comfortable setting a realistic budget. Once a realistic budget has been set, you can help propose a solution that will fit within it. The questions regarding budget should be left until you have identified all the issues and how you will help solve them. Just as you wouldn?t expect a car mechanic to quote you a price before they have looked at your car and explained what needs to be done and how they will do it.
Discussing their budget is also a good time to mention the typical ROI for your product to remind them why the investment is worth it. It also helps to discover their expectations for the investment that would be necessary to fulfill in order to purchase the solution. Companies will be more willing to allocate a budget if the business problem is clearly identified and the value of your product will help solve that problem(s).
Solve the Problem
Asking relevant questions and listening to what you have learned is critical to identifying and solving needs and achieving customer satisfaction. They are more likely to return to a company that is able to effectively identify their needs and offer solutions that solve their problem. It?s important to keep building the next step while you?re with your prospect and help move them along the process. This helps keep them engaged and committed in both the adoption and implementation of a new product. Every business problem you encounter can seem unique, but the techniques for solving business problems don?t have to be reinvented each time in the sales process.